BSMG Blog: Protecting the Future of Families and Businesses

Financial Advisor Marketing Tips: Words that Work

Most Popular Sales Pitch...

It's amazing the amount of content that a simple query brings up in a Google search. Page after page of things you should say, things NEVER to say and prospecting phrases that are sure to bring in business. It isn't as simple as canned pitches. Our industry isn't a catch all, every client is truly unique and should be treated as such. Upon searching we stumbled upon an article from InsuranceNewsNet that discusses 10 Financial Phrases to Ban... and What to Say Instead. Below, we've shared the phrases we found most helpful, along with other powerful financial advisor marketing tips.

"Do not promise clients a “dream” retirement; they would rather hear they’re headed for a “comfortable” life during their later years. Respondents said promising a dream sounds like a car salesman. When it comes to promoting one’s services, be realistic." - InsuranceNewsNet

We agree, having a realistic and honest conversation with your clients is one of the most valuable things you can give to them. You want to set practical expectations based on what they can afford.

"Investors don’t want to be offered “financial freedom”; they’d rather have “financial security.”Since 2007, financial security has resonated with more and more of the population. By 2011, 85% of investors chose financial security as their top goal. Clients want to hear a plausible message." - InsuranceNewsNet

Your top goal should be to protect your clients. With protection comes the word security. Financial freedom won't make a client feel as though their families are protected, financial security will.

"Replace “managing longevity risk” in retirement with “making sure you have enough money as long as you live.”Why? People prefer to see a long life as a gift rather than a risk." - InsuranceNewsNet

Using the word risk may make clients shy away. Putting the phrase into laymen's terms gives clients the exact information they need and allows them to feel a sense of security yet again.

"Avoid using the terms “fees” and “commissions” when possible, in favor of the word “cost.” About 53% of advisers’ clients least liked to pay fees, while 26% least liked paying commissions, 15% didn’t like charges and only 6% had negative feelings about cost." - InsuranceNewsNet

The word fee tends to be associated with a nuisance and something that people don't like to pay while the word commissions tends to align with sales people. Using the word cost may help clients to better see the whole picture of their investment.

Marketing Tips: When you're reading these phrases we want you to keep your marketing efforts in mind. These are not just suggestions to use in conversation. You should be considering all of this in any emails that you send, social media posts that you write, or blogs that you publish. Everyone in your audience should be regarded as a prospect!